Solar Encapsulation Market Size, Share, Growth, Demand and Forecast Till 2027: IMARC Group

The global solar encapsulation market reached a value of US$ 2,030.3 Million in 2021. IMARC Group expects market to reach a value of US$ 4,845.3 Million by 2027

SHERIDAN, WYOMING, USA, February 6, 2022 /EINPresswire.com/ --
Solar encapsulation is the technique of encapsulating photovoltaic (PV) cells with a polymeric material to safeguard them against physical and environmental degradation. Some commonly used encapsulant materials include ethylene-vinyl acetate (EVA), polyvinyl butyral (PVB), and ultraviolet (UV) curable resin. It provides adhesion between the solar cells, the top surface, and the rear surface of PV modules. It also extends the life of solar cells, eliminates stability issues, and protects against UV radiation, corrosion, temperature changes, and mechanical stress. As a result, solar encapsulation is rapidly gaining traction as it helps enhance the efficiency, performance, cost-effectiveness, and durability of PV modules.

Report Metric
Historical: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027

The global solar encapsulation market reached a value of US$ 2,030.3 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4,845.3 Million by 2027 exhibiting a CAGR of 14.40% during 2022-2027.

Solar Encapsulation Market Trends and Drivers:

The global solar encapsulation market is primarily driven by the widespread adoption of solar panels due to the escalating electricity demand. Additionally, the growing inclination toward renewable energy sources on account of depleting conventional resources and rising environmental concerns have catalyzed the product demand.

Furthermore, governments of various countries are introducing favorable policies and subsidies to encourage the installation of solar panels. Along with this, the rising investments in the modernization of existing infrastructure have propelled the market growth.

Other factors, including the launch of new, low-cost encapsulant materials, increasing applications of solar energy for power generation, technological advancements, and rapid urbanization, are also anticipated to drive the market further.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Solar Encapsulation Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

3M Company, Bridgestone Corporation, dnpSolar, Dow Inc., Dupont De Nemours Inc., Eastman Chemical Company, First Solar Inc., Kuraray Co. Ltd., Mitsubishi Chemical Holdings Corporation, Mitsui Chemicals Inc., RenewSys India Pvt. Ltd. and STR Holdings Inc.

The report has segmented the market on the basis of region, material, technology and application.

Breakup by Material:
• Ethylene Vinyl Acetate
• Non-Ethylene Vinyl Acetate
• UV Curable Resins

Breakup by Technology:
• Single-crystal/Polycrystalline Silicon Solar Technology
• Thin-film Solar Technology
o Cadmium Telluride (CdTe)
o Copper Indium Gallium Selenide (CIGS)
o Amorphous Silicon (a-Si)

Breakup by Application:
• Construction
• Electronics
• Automotive
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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